Guideline Value for Bhavaniamman Street (Krishnamoorthy Nagar)

Bhavaniamman Street (Krishnamoorthy Nagar) guideline value

The current guideline value for Bhavaniamman Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bhavaniamman Street (Krishnamoorthy Nagar) has changed

The guideline value for Bhavaniamman Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 shows a significant increase to Rs 2,700 per sq.ft, which is a rise of 61% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there is an increase of 8% in the guideline value. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the current guideline value for Bhavaniamman Street (Krishnamoorthy Nagar).

• Bhavani Street: Rs 2,200 per sq.ft (2024)
• Bharma Colony: Rs 2,700 per sq.ft (2024)
• Bharathiyar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Bharathiyar Street extension: Rs 2,700 per sq.ft (2024)
• Binni Main Road: Rs 2,700 per sq.ft (2024)
• Binny Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bhavaniamman Street (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhavaniamman Street (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Bhavaniamman Street (Krishnamoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Bhavaniamman Street (Krishnamoorthy Nagar)?

The current guideline value for Bhavaniamman Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. There is no figure available for the years 2023, 2007, 2003, and 2002.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft, which is the same as the current guideline value for Bhavaniamman Street (Krishnamoorthy Nagar).

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. The duty is charged on the higher of the guideline value and the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.